The weekly Davis Index for HMS 1&2 (80:20) and A3 scrap in the Baltic Sea region of Russia decreased by $1/mt to $247/mt fob on Monday. The index for the material in the Black Sea region decreased by $4/mt to $254/mt fob.
There were no ferrous scrap sales reported from Russia at the end of February because most suppliers sold earlier and Turkish mills ceased purchasing. Russian exporters estimated that Turkish prices are now $275-277/mt cfr for HMS 1&2 (80:20) from St. Petersburg, and around $275/mt cfr A3 scrap from Rostov-on-Don. Turkish mills are not interested in purchasing, and because steel product demand is weak and outlook uncertain, they expect lower prices.
Collection prices in Russia remain quite high. The weekly Davis Index for HMS 1&2 (80:20) and A3 scrap in St. Petersburg dock increased by Rub450/mt ($7/mt) to Rub14,100/mt delivered on Monday, while the index in Rostov-on-Don dock remained flat at Rub13,600/mt delivered.